New York Business Startup Guides
Start a Business in Owego, New York
Are you starting a business in Owego, New York? This article discusses the most important things to consider when opening a business in Owego.
Are You Ready for the Challenges of Being an Entrepreneur?
Before you get too far along in the process, take inventory of your entrepreneurial instincts and capabilities.
Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:
- Speak with other entrepreneurs in Owego. Listen closely to their experiences and see if you think you too can be successful.
- You should read Business Failure. It's a good read for those who are thinking about becoming an entrepreneur.
- Involve a spouse, family member or trusted friend in the decision. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.
What Business to Start
Choosing a business that is right for you is very important. You might get some good ideas about what kind of business to start by reading Good Business Ideas.
For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our Starting a Car Storage Business guide or our Starting a Leather Goods Trimmings Business guide.
Always keep in mind that you are opening your new business in Owego. If Owego already has plenty of the kind of business you want to start, you might want to change your plans. Study Owego demographics and do a competitive analysis as part of your startup planning process.
Owego, New York Demographic Information
Owego has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Owego demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Owego.
Businesses
As a new Owego entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Owego for each business category. By looking at this chart, you can get a general sense for how much competition there is in the business niche that you are pursuing.
Businesses
Company Formation in Owego, New York
A critical step is ensuring that you choose the right legal structure for your new entity. Among other things, forming a legal entity for the business limits your liabilities.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation is a very popular way to form a business. Of course, you have to decide which type of corporation to form and where to incorporate. Just because you are starting a business in New York, you don't necessarily have to incorporate in New York. In fact, you are allowed to incorporate wherever you want. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
There's a lot to know about forming a company. To learn the basics of company formation, browse articles on our site, such as Dissolving a Corporation. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Owego, New York, our information on Incorporating in New York may be a useful resource if you decide to incorporate in New York.
Don't Forget to Create a Business Plan
A business plan is vital to the health of your new business. In effect, a business plan is a written description of the future you envision for your business. Not having a business plan is a recipe for disaster.
If writing a business plan is on your to-do list, be sure to read Business Plan Contests. You can also get free counseling sessions provided by your local SCORE chapter in New York.
Ramping Up Sales
Being able to sell is a key enabler to your business success. Whether you are focused on selling local customers in Owego or are selling to customers throughout New York, the United States or even the world, you have to be able to sell.
Not knowing how to sell can result in lost customers and minimal market share. Let us help you refine your selling techniques through our many useful sales advice tips.
Writing Great Proposals is worth reading, as it may give you some good ideas on how to sell your products or services. We have many more good articles on selling that you may enjoy reading.
Never Give Up
You have a dream -- starting a business in Owego. To achieve your dream, you have to persevere, even when the odds are against you.
If you choose the right business and love what you do, you will greatly increase your odds of success.
We are here to help Owego businesses to be successful. We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.
More Entrepreneurial Resources for Starting a Business in Owego, New York
Here are more links that we believe will help you be successful in starting a business in Owego.
- Resources for Owego, New York Entrepreneurs - Browse a variety of resources we've collected to assist Owego entrepreneurs.
- New York Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in New York.
- New York Small Business Development Center - The New York State Small Business Development Center delivers high quality business counseling and training to New Yorkers who want to start a business or improve the performance of an existing business.
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